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To what amount will ​$4 comma 900 invested for 9 years at 10 percent compounded annually​ accumulate?
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1 vote
To what amount will ​$4 comma 900 invested for 9 years at 10 percent compounded annually​ accumulate?

User Alexander Pacha
by
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1 Answer

3 votes

Answer:

=$11,553.94

≅$11,554

Step-by-step explanation:

A = P(1 + r/1)^t

Given that

P = $4,900

r = 10%

t = 9years

= 4900 * (1 + 0.1)^9

= 4900 * 1.1^9

= 4900 * 2.3579

= $11553.94

≅ $11554

User Prasham
by
5.1k points
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